Prosecutors, tax investigators, and financial officials began a large-scale raid on Wednesday morning targeting allegedly illegal stock transactions. According to reports from the Handelsblatt, the operation was directed against a network centered around a Dutch fund manager. The Cologne Public Prosecutor’s Office confirmed searches taking place across Germany and the Netherlands, including locations in Amsterdam, the province of Utrecht, and Frankfurt, Limburg, and Saxony-Anhalt. Investigators are being supported by Dutch authorities in this effort. In addition to private residences and offices, a tax consulting firm was searched, as it is suspected of being involved in Cum-Ex schemes. The primary goal of the investigation is to secure emails and other forms of communication. At least 15 individuals are implicated in the case, which concerns the Cum-Ex model; this model involved the multiple refunding of taxes around the dividend cutoff date, even when the taxes had only been paid once.
Mixed
